Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have received an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $47.27.

A number of equities analysts have weighed in on the company. Scotiabank assumed coverage on Rocket Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price target for the company. Wedbush assumed coverage on shares of Rocket Pharmaceuticals in a research note on Monday, December 30th. They issued an “outperform” rating and a $32.00 target price for the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $39.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Chardan Capital reissued a “buy” rating and issued a $62.00 price objective on shares of Rocket Pharmaceuticals in a research report on Monday, November 18th. Finally, Leerink Partners dropped their target price on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th.

Insider Transactions at Rocket Pharmaceuticals

In related news, CEO Gaurav Shah sold 11,091 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $13.05, for a total transaction of $144,737.55. Following the transaction, the chief executive officer now directly owns 707,328 shares in the company, valued at $9,230,630.40. This trade represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 13,490 shares of company stock worth $176,045. 28.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Rocket Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP boosted its holdings in shares of Rocket Pharmaceuticals by 22.8% in the 3rd quarter. Wellington Management Group LLP now owns 11,242,144 shares of the biotechnology company’s stock valued at $207,642,000 after buying an additional 2,086,424 shares during the period. State Street Corp boosted its stake in Rocket Pharmaceuticals by 11.6% in the third quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company’s stock valued at $57,294,000 after acquiring an additional 322,156 shares during the period. First Turn Management LLC grew its holdings in shares of Rocket Pharmaceuticals by 123.6% during the second quarter. First Turn Management LLC now owns 560,989 shares of the biotechnology company’s stock valued at $12,078,000 after purchasing an additional 310,119 shares during the last quarter. Maverick Capital Ltd. raised its position in shares of Rocket Pharmaceuticals by 4.8% during the 3rd quarter. Maverick Capital Ltd. now owns 4,118,672 shares of the biotechnology company’s stock worth $76,072,000 after purchasing an additional 190,360 shares during the period. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Rocket Pharmaceuticals by 3.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 4,493,833 shares of the biotechnology company’s stock worth $83,001,000 after purchasing an additional 165,911 shares during the last quarter. 98.39% of the stock is owned by institutional investors and hedge funds.

Rocket Pharmaceuticals Stock Performance

NASDAQ RCKT opened at $12.56 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05. Rocket Pharmaceuticals has a 1-year low of $11.15 and a 1-year high of $31.47. The firm has a market capitalization of $1.14 billion, a P/E ratio of -4.57 and a beta of 1.01. The business’s 50-day simple moving average is $14.01 and its 200-day simple moving average is $17.86.

About Rocket Pharmaceuticals

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a late-stage biotechnology company that focuses on developing gene therapies for rare and devastating diseases. It has three clinical-stage ex vivo lentiviral vector programs for fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction; and pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia.